ReNedcorCautionaryAnnouncemt

Old Mutual PLC
22 June 2000


                       Old Mutual plc
                              
                       Nedcor Limited
            Withdrawal of Cautionary Announcement


Old Mutual plc draws attention to the Nedcor Ltd
announcement noting the decision by the Minister of Finance
and Registrar of Banks that, following consultation and
review, approval has not been granted for Nedcor Limited
('Nedcor') to proceed with an offer for Standard Bank
Investment Corporation Limited ('Stanbic').


Enquiries:

Old Mutual
James Poole, Director, Investor Relations  Tel: [phone]

College Hill
Tony Friend                                Tel: [phone]

Note: Nedcor Ltd is a 53.4% subsidiary of Old Mutual plc